HUTNER CAPITAL MANAGEMENT INC
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRKA | $30.7M | 41 | +0.08pp | 31q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $19.7M | 39,297 | -0.46pp | 31q | -6.4%-$1.3M | |
| ALPHABET INC | GOOG | $14.5M | 41,045 | +1.05pp | 24q | +2.9%+$414.5K | |
| COSTCO WHOLESALE CORPORATION | COST | $13.3M | 14,183 | -0.50pp | 31q | +0.7%+$91.7K | |
| PHILIP MORRIS INTL INC | PM | $13.0M | 71,834 | +0.26pp | 31q | HELD | |
| COCA COLA CO | KO | $12.5M | 154,028 | +0.16pp | 31q | HELD | |
| JOHNSON & JOHNSON | JNJ | $11.5M | 45,099 | +0.02pp | 31q | HELD | |
| FRANCO NEV CORP | FNV | $10.1M | 48,444 | -0.79pp | 31q | +2.6%+$253.9K | |
| ABBVIE INC | ABBV | $10.1M | 40,013 | +0.42pp | 31q | HELD | |
| MCDONALDS CORP | MCD | $9.5M | 35,234 | -0.70pp | 31q | HELD | |
| PEPSICO INC | PEP | $9.2M | 68,143 | -0.58pp | 31q | +2.5%+$223.5K | |
| ENBRIDGE INC | ENB | $8.8M | 161,690 | -0.10pp | 31q | +0.6%+$56.1K | |
| ALTRIA GROUP INC | MO | $8.1M | 113,040 | +0.15pp | 31q | HELD | |
| PROCTER & GAMBLE CO | PG | $7.8M | 53,101 | -0.08pp | 31q | -0.7%-$54.7K | |
| AMERICAN EXPRESS CO | AXP | $7.0M | 20,835 | +0.24pp | 31q | +1.2%+$80.8K | |
| WALMART INC | WMT | $6.5M | 57,724 | -0.37pp | 31q | -0.5%-$33.1K | |
| APPLE INC | AAPL | $6.4M | 22,289 | +0.26pp | 30q | +1.0%+$63.1K | |
| ENTERPRISE PRODS PARTNERS L | EPD | $5.1M | 138,729 | -0.11pp | 31q | +1.2%+$61.6K | |
| ANALOG DEVICES INC | ADI | $4.7M | 11,731 | +0.31pp | 21q | HELD | |
| CHUBB LIMITED | CB | $4.6M | 13,541 | +0.24pp | 8q | +14.4%+$579.9K | |
| ABBOTT LABORATORIES | ABT | $4.0M | 43,797 | -0.28pp | 31q | -0.5%-$20.4K | |
| UNION PAC CORP | UNP | $3.6M | 13,053 | +0.16pp | 31q | +4.3%+$146.3K | |
| REALTY INCOME CORP | O | $3.4M | 54,267 | flat | 31q | +2.5%+$81.4K | |
| VERISK ANALYTICS INC | VRSK | $3.2M | 17,641 | +0.34pp | 31q | +50.0%+$1.1M | |
| VISA INC | V | $2.9M | 8,478 | +0.22pp | 6q | +12.7%+$327.7K | |
| GENUINE PARTS CO | GPC | $2.8M | 23,654 | +0.08pp | 31q | HELD | |
| OREILLY AUTOMOTIVE INC | ORLY | $2.7M | 29,674 | -0.03pp | 22q | +0.7%+$19.3K | |
| NORFOLK SOUTHN CORP | NSC | $2.3M | 7,454 | +0.05pp | 31q | HELD | |
| YUM BRANDS INC | YUM | $1.7M | 10,693 | +0.02pp | 24q | +3.6%+$60.1K | |
| RESTAURANT BRANDS INTL INC | QSR | $1.7M | 23,563 | +0.13pp | 31q | +30.9%+$403.6K | |
| HERSHEY CO | HSY | $1.6M | 9,378 | -0.14pp | 31q | +1.0%+$16.0K | |
| PROGRESSIVE CORP | PGR | $1.3M | 6,093 | +0.04pp | 6q | +0.8%+$10.9K | |
| SHERWIN WILLIAMS CO | SHW | $1.3M | 3,731 | +0.02pp | 24q | HELD | |
| WELLS FARGO & CO | WFC | $1.2M | 14,953 | flat | 31q | HELD | |
| NOVARTIS AG | NVS | $1.1M | 6,891 | flat | 9q | +0.8%+$8.9K | |
| EXPEDITORS INTL WASH INC | EXPD | $1.1M | 6,485 | +0.04pp | 31q | HELD | |
| DIAGEO PLC | DEO | $739.0K | 9,194 | flat | 31q | -2.6%-$20.1K | |
| WEC ENERGY GROUP INC | WEC | $623.1K | 5,336 | -0.01pp | 31q | HELD | |
| ONEOK INC NEW | OKE | $605.3K | 6,962 | -0.02pp | 12q | HELD | |
| MOODYS CORP | MCO | $428.0K | 945 | flat | 29q | HELD | |
| ALPHABET INC | GOOGL | $283.9K | 795 | +0.02pp | 3q | HELD | |
| UNITED PARCEL SVCS INC | UPS | $259.2K | 2,411 | flat | 31q | -1.4%-$3.5K | |
| CORNING INC | GLW | $204.3K | 800 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Insurance | $56.3M | 22.3% |
| Food, Drink & Tobacco | $45.3M | 17.9% |
| Retail & Consumer | $36.8M | 14.6% |
| Biotech & Pharma | $26.6M | 10.5% |
| Software & IT Services | $18.0M | 7.1% |
| Transport & Logistics | $16.0M | 6.3% |
| Mining & Metals | $10.3M | 4.1% |
| Banks & Lending | $8.3M | 3.3% |
| Chemicals | $7.8M | 3.1% |
| Computer Hardware | $6.4M | 2.6% |
| Energy | $5.7M | 2.3% |
| Semiconductors & Electronics | $4.7M | 1.8% |
| Other sectors | $10.1M | 4.0% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $252.1M | 43 | 1 | 19 | 6 | 2 | 57.4% | 45 |
| Q1 2026 | $243.4M | 44 | 0 | 12 | 8 | 0 | 58.6% | 45 |
| Q4 2025 | $239.6M | 44 | 1 | 18 | 14 | 1 | 57.8% | 48 |
| Q3 2025 | $236.4M | 44 | 0 | 27 | 4 | 0 | 57.8% | 44 |
| Q2 2025 | $219.8M | 44 | 0 | 15 | 23 | 4 | 59.1% | 44 |
| Q1 2025 | $234.3M | 48 | 3 | 19 | 19 | 0 | 61.4% | 43 |
| Q4 2024 | $207.1M | 45 | 0 | 16 | 12 | 0 | 60.5% | 45 |
| Q3 2024 | $200.9M | 45 | 1 | 6 | 12 | 0 | 61.1% | 44 |
| Q2 2024 | $182.4M | 44 | 1 | 7 | 25 | 0 | 60.6% | 44 |
| Q1 2024 | $184.4M | 43 | 0 | 7 | 5 | 1 | 61.1% | 40 |
| Q4 2023 | $169.7M | 44 | 0 | 6 | 18 | 1 | 60.7% | 45 |
| Q3 2023 | $163.1M | 45 | 2 | 6 | 21 | 1 | 61.1% | 45 |
| Q2 2023 | $171.1M | 44 | 0 | 10 | 14 | 0 | 59.8% | 45 |
| Q1 2023 | $164.3M | 44 | 0 | 12 | 3 | 0 | 59.9% | 45 |
| Q4 2022 | $161.4M | 44 | 0 | 19 | 14 | 0 | 61.4% | 45 |
| Q3 2022 | $143.0M | 44 | 1 | 9 | 21 | 0 | 60.9% | 45 |
| Q2 2022 | $152.4M | 43 | 0 | 6 | 13 | 2 | 61.4% | 42 |
| Q1 2022 | $175.3M | 45 | 0 | 9 | 15 | 1 | 60.2% | 43 |
| Q4 2021 | $171.3M | 46 | 1 | 14 | 14 | 0 | 59.0% | 42 |
| Q3 2021 | $152.8M | 45 | 0 | 7 | 18 | 1 | 59.3% | 43 |
| Q2 2021 | $156.2M | 46 | 1 | 7 | 32 | 1 | 58.3% | 44 |
| Q1 2021 | $152.5M | 46 | 3 | 16 | 12 | 0 | 58.7% | 48 |
| Q4 2020 | $143.6M | 43 | 0 | 9 | 12 | 1 | 60.2% | 47 |
| Q3 2020 | $134.6M | 44 | 5 | 22 | 7 | 0 | 61.0% | 44 |
| Q2 2020 | $118.3M | 39 | 0 | 16 | 9 | 2 | 60.5% | 45 |
| Q1 2020 | $109.5M | 41 | 0 | 8 | 23 | 2 | 63.2% | 43 |
| Q4 2019 | $145.1M | 43 | 1 | 8 | 26 | 0 | 59.9% | 30 |
| Q3 2019 | $141.3M | 42 | 0 | 8 | 12 | 0 | 60.0% | 43 |
| Q2 2019 | $140.6M | 42 | 2 | 6 | 6 | 1 | 60.0% | 38 |
| Q1 2019 | $136.6M | 41 | 1 | 8 | 28 | 1 | 59.8% | 40 |
| Q4 2018 | $128.1M | 41 | 0 | 0 | 0 | 0 | 61.3% | 43 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.